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- W2157315518 abstract "This paper describes the challenges faced during the implementation of inflation targeting in Turkey and evaluates the transition process to full-fledged inflation targeting. Using this background, the paper draws lessons for similar countries considering inflation targeting as a monetary policy regime. We argue that, the strategy of starting inflation targeting with an implicit version and gradually converging to full-fledged targeting can be a viable option when certain set of conditions is not satisfied. We conjecture, however, that implementing a light version?namely inflation targeting?does not necessarily mean that the system would be exempt from all the prerequisites. In the Turkish case, for example, institutional independence and political support seem to have been the fundamental conditions for initiating the process of inflation targeting." @default.
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- W2157315518 date "2012-07-12" @default.
- W2157315518 modified "2023-09-26" @default.
- W2157315518 title "Turkish experience with implicit inflation targeting" @default.
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